Plug-and-play housebuilding innovator Veev announced that it raised $400 million in Series D funding.
By Abigail Klein Leichman, Israel21c
Plug-and-play housebuilding innovator Veev, based in California with R&D in Tel Aviv, kicked off the month of March with the announcement that it raised $400 million in Series D funding.
This new unicorn will use the funds to scale its operations, expand construction and distribution to new markets, and accelerate R&D initiatives that will make the production of modular Veev homes “even more sustainable and cost-efficient,” the company stated.
The Veev system leverages a proprietary panelized approach to produce fully cladded walls, complete with mechanical, electrical, and plumbing (MEP). The pre-inspected walls are delivered to the site ready for installation. Veev homes are built up to four times faster than the construction industry standard, which brings down costs significantly.
In other mega-funding news for March 2022, cybersecurity startup Axonius of New York and Tel Aviv raised $200 million in Series E funding.
Tel Aviv-based Connecteam raised $120 million in Series C funding to continue expanding its management technology for “deskless” employees in industries such as healthcare, manufacturing, security, cleaning and construction.
Tel Aviv-based Autobrains also closed a $120 million Series C round. The startup is developing AI solutions for next-generation vehicles and mobility such as autonomous cars.